UFP Technologies (NASDAQ:UFPT) Raised to Buy at Wall Street Zen

UFP Technologies (NASDAQ:UFPT) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings upgraded shares of UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, UFP Technologies has a consensus rating of “Hold”.

UFP Technologies Stock Performance

Shares of UFPT opened at $314.01 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.00 and a quick ratio of 1.72. The firm’s 50 day moving average is $250.24 and its 200-day moving average is $230.11. UFP Technologies has a 12-month low of $173.86 and a 12-month high of $338.71. The stock has a market capitalization of $2.43 billion, a P/E ratio of 33.84 and a beta of 1.08.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.61. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. The firm had revenue of $173.96 million for the quarter, compared to analysts’ expectations of $159.38 million. Equities research analysts anticipate that UFP Technologies will post 10.54 EPS for the current fiscal year.

Insider Activity at UFP Technologies

In other news, Director Daniel C. Croteau sold 2,864 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total value of $634,977.44. Following the completion of the transaction, the director owned 855 shares in the company, valued at $189,562.05. This represents a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of UFP Technologies stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $239.29, for a total value of $287,148.00. Following the completion of the sale, the director directly owned 5,476 shares in the company, valued at $1,310,352.04. This represents a 17.97% decrease in their position. The SEC filing for this sale provides additional information. 4.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of UFPT. Rice Hall James & Associates LLC increased its position in UFP Technologies by 110.0% during the first quarter. Rice Hall James & Associates LLC now owns 21,211 shares of the industrial products company’s stock worth $4,106,000 after acquiring an additional 11,111 shares during the period. UBS Group AG boosted its holdings in UFP Technologies by 22.4% in the 4th quarter. UBS Group AG now owns 189,403 shares of the industrial products company’s stock valued at $42,053,000 after purchasing an additional 34,715 shares during the period. Maridea Wealth Management LLC acquired a new position in shares of UFP Technologies during the 1st quarter worth approximately $1,465,000. Isthmus Partners LLC acquired a new position in shares of UFP Technologies during the 1st quarter worth approximately $1,679,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of UFP Technologies during the first quarter worth approximately $953,000. 87.28% of the stock is currently owned by institutional investors.

About UFP Technologies

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.